Test Key Sample Clauses

Test Key a digital code calculated in compliance with the algorithm set by the Bank using a TCT or a DigiPass.

Test Key. Test Key is a PC-based, password-protected, security calculation that uses various components of your funds transfer request to calculate a verification number. To use the Test Key, two individuals you have previously authorized will enter the appropriate data into the program where a verification number will be generated. This number is provided to the Bank with the funds transfer request. If you choose this method, you agree to treat the Test Key as you do other sensitive and irreplaceable business records. You must always be able to account for the location of your test key software and are responsible for ensuring that it is properly safeguarded against unauthorized use. For your protection we recommend that you change your password regularly. • Online: East West Bank offers a Business Internet Banking product from a web-based system. To initiate funds transfers online, two individuals you have previously authorized will enter the funds transfer into the system, which is then transmitted to the Bank upon entry of the security code indicated on the token at the time of the wire release. If only one individual has been previously authorized to enter funds transfers into the system, the funds transfer will be processed based on the entry by the one authorized individual and authenticated by the security code indicated on the token at the time of the funds transfer release. Repetitive Transfers – Repetitive transfers are funds transfers that are sent to the same account of the same bank that differ only in amount. To establish a repetitive funds transfer, complete the Funds Transfer Designation and Authorization along with a Repetitive Funds Transfer Agreement and Request. We will assign a repetitive transfer number for use with telephone and facsimile requests. For repetitive transfers, we callback only when you set up the initial transfer instructions. Subsequent repetitive transfers will not be verified. Processing Funds Transfers – We will use our best efforts to transfer funds the same day if: Changing or Recalling a Funds Transfer – If you try to cancel or change an instruction after we receive it, we will use reasonable efforts to comply with your request. We cannot guarantee that we will be able to do so. You agree that we are not responsible if we do not cancel or change your instructions. If you instruct us to send changed or amended instructions on a funds transfer that has already been transmitted by us, you agree that we will not be responsibl...